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Oracle 1z0-1054-23 Exam Syllabus Topics:

Oracle Financials Cloud: General Ledger 2023 Implementation Professional Sample Questions:

1. A subsidiary company is about to configure their General Ledger in a highly regulated country where there is a legal requirement to produce fiscal reports under local GAAP. Subledgers transferring to General Ledger must use the local currency, and there is a requirement to report to the parent company (not local currency) using International Financial Reporting Standards (IFRS).
Which two ledger types should be configured to fulfill this reporting requirement?

A) Secondary ledger with the IFRS accounting convention
B) Primary ledger with the IFRS accounting convention
C) Primary ledger with the local accounting convention
D) Reporting currency with the local accounting convention
E) Reporting currency with the IFRS accounting convention

2. Your customer uses Financials Cloud, Projects, Inventory, and SCM.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)

A) Intercompany Balancing Rules are defined centrally and applied across Financials and Projects.
B) In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals.
C) Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product.
D) Each product has its own Intercompany Accounting feature that needs to be configured separately.

3. Challenge 2
Manage Shorthand Aliases
Scenario
Your client intends to utilize the Shorthand Aliasfeature and would like to see how the aliases willappear when entering transactions.
Task 2
Create a shorthand alias for the US Chart of Accounts to record Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center.

Note:
. Prefix your alias name with 07, where 07 is your exam ID.
. There is no Product or Intercompany impact.

4. Which two statements are true about the Intercompany Reconciliation report?

A) It includes ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not.
B) It displays the intercompany receivables and intercompany payables balances in summary for a period.
C) It displays all clearing company balancing lines for a period.
D) You can only drill down to the General Ledger journal and then from there to the Subledger journal entry.
E) It can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.

5. You have redesigned your chart of accounts and need to update your existing cross-validation rules. There is a requirement for new rules; some simply need to be updated and others need to be deleted.
What is the most efficient way to achieve this?

A) by using the Manage Cross-Validation Rules page.
B) by creating Cross-Validation Rules desktop-integrated spreadsheet.
C) by using the Manage General Ledger Security page.
D) by using Cross-Validation Rules Import file-based data import (FBDI).

Solutions: